CAYE Raises Nearly RMB400 Million in Series B Led by Meituan Longzhu

Commercial fully automatic coffee machine brand CAYE (Kaye Technology) has completed a nearly RMB400 million Series B financing round led by existing investor Meituan Longzhu, with participation from Borui Capital, Hillhouse Ventures and Suzhou Venture Capital, according to 36Kr. The company said this is the largest single financing deal to date in China’s commercial fully automatic coffee machine segment. Founded in December 2022, CAYE develops its in-house “Bionic Barista” system and said its machines have entered boutique and chain coffee stores, including well-known domestic coffee chains, while expanding overseas to more than 80 countries and regions. CAYE said it has filed over 300 patents, with invention patents accounting for more than 40%. The company said its Suzhou production base is planned for annual capacity of over 40,000 units, and it is building a new 38,000-square-meter smart factory targeted for completion and ramp-up by 2028, aiming for annual deliveries of 100,000 units. Proceeds will be used for core R&D, production expansion, domestic and overseas market growth, and building a global after-sales service system.